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BRICS: China Dumps Another $22 Billion in US Treasuries & Stocks
Source: Fortune.com
The BRICS alliance is indulging in massive sell-off by offloading billions worth of US treasuries and stocks. China is on a US Treasury dumping spree as it looks to halt the rise of the US dollar against the Yuan. The Chinese government is defending the weakened Yuan by offloading billions worth of US treasuries and stocks from its reserves.
BRICS member China dumped $21.2 billion in US treasuries and stocks in August, according to latest data released by the US Treasury Department on Wednesday. This is the highest that the Chinese government sold US government bonds in four years……more here
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